I am very early in the career with 5 years of total experience and every single I search in Redfin for beautiful home, I see that the homes between $2-$4M are damn beautiful. Guess what, they are gone the next day or next month. I always wanted to know who are these people who buy these expensive homes? Are they software engineers? Business Magnets? I also want to buy something big like that one day and really curious on how..
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One of my ex-coworkers (dude was 70, extremely accomplished, sold a company many years ago to one of the big names, literally wrote a book on a certain topic) was trying to sell his gorgeous 5M$ house in Palo Alto. Think he finally sold it so some senior VP from nVidia.
5M house means 5k a month in property taxes. Doesn't makes sense unless u r executive, have a big family, and both parents working. I would rather buy multi unit
Op thought he made it big with his paltry 250k tc. Newsflash pal. You are still the lowest in the pecking order.
Ok, tough guy
If your pecking order is who can afford a house in this homeless, overpriced shitbox, then sure. But 250k is still good money, and someone who saves well can retire rather young on a salary like that if they don’t want to live in SF or NYC.
Directors+ at Google/FB make at least 1 million. Or a married L7 couple can get there too. That makes a 4M house pretty affordable with a few years savings + mortgage. Also, everyone and their dog in the bay has exited a startup and has enough to plomp on a 4mil home (exaggerating, but you know what I mean).
Not true about startup part
He/She meant only the dog has existed a startup
When I was younger I had the same question and just went door to door to ask. In the bay you will find mostly small business owners and a handful of corp middle mangers in the 4m range. 4m is only a million down and 20k ish a month. It's very attainable if you make it a priority.
Mostly owned by members of the BullGang, Tesla call holders, and small business owners.
Interesting article from 2004 https://www.paloaltoonline.com/news_features/weekly25/covermain.shtml
In which year was this article written?
I’m 30 - my wife and I together make ~700k and have 900k in savings. I’m shopping around for one of those.
5 years is early 😳
compared to others who has >10yrs of experience, I feel I am early in the career.
Bruh I’m trying to retire in my 30s 😅